COLOMBIA · ECONOMY
Key Facts
- Power Index Colombia ranks 6th of 14 in The Rio Times Latin America Power Index, with 51.1 points (November 2026 edition).
- What Colombia’s government recovery plan puts rebuilding after the 10 August earthquake at 58.29 trillion Colombian pesos (COP), about US$18.0 billion.
- Funding Only COP 15.04 trillion (about US$4.6 billion) is identified, leaving a gap of COP 43.25 trillion (US$13.3 billion).
- Trend The estimate has risen from COP 30 trillion (US$9.3 billion) in August.
- Homes 255,079 homes were damaged or destroyed, in official figures that other counts do not match.
- Not known Where most of the money will come from.
Colombia’s bill for rebuilding after the 10 August earthquake has grown to COP 58.29 trillion (about US$18.0 billion), nearly double the first estimate. The figure comes from the government’s recovery plan, first reported in late October and still in the news this week, and only about a quarter of it had an identified funding source.
The plan was drawn up by the National Unit for Disaster Risk Management, known as UNGRD, Colombia’s emergency agency, in its Specific Action Plan for Recovery (PAE). Dollar amounts below use about 3,240 pesos per US dollar, the official rate (TRM) on 9 November; one Colombian “billón” is a trillion.
Colombia is a close US partner and a big supplier of oil, coffee and cut flowers, so a reconstruction bill of this size matters for its budget and its borrowing. The quake, of magnitude 7.4, struck western Colombia on Monday, 10 August 2026.
How the Estimate Kept Growing
In mid-August, President Abelardo de la Espriella cited a first estimate of about COP 30 trillion (US$9.3 billion), most of it for buildings and the rest for infrastructure.
In late August, an assessment by the UN Development Programme (UNDP) and UNGRD put direct physical damage at COP 42.1 trillion (US$13.0 billion). In October, Housing Minister Jaime Andrés Beltrán told the congress of Camacol, Colombia’s construction chamber, that reconstruction would cost COP 54 trillion (US$16.7 billion), almost COP 20 trillion (US$6.1 billion) of it for housing.
The new total, COP 58.29 trillion, adds money for rehabilitation, transition and programmes that do not yet have a full cost. The plan lists 83 sector projects worth COP 54.32 trillion (US$16.8 billion).
Who Is Going to Pay
The plan counts COP 15.04 trillion (US$4.6 billion) as “initially identified” funds, meaning money pointed to but not necessarily budgeted, which leaves a gap of COP 43.25 trillion (US$13.3 billion). The plan’s own scenario without the funds that regional governments, known as departments, and city governments expect to add puts the gap at COP 50.08 trillion (US$15.5 billion). The Ombudsman’s office (Defensoría del Pueblo) said this week that only COP 8.21 trillion (US$2.5 billion) had been identified.
The figure is a “programmed value”, meaning the amount planned, not a contract and not a budget with guaranteed money.
The Milagro Fund, the reconstruction fund the government set up after the quake, channels part of the money.
Homes at the Centre
Official figures put the number of affected homes at 255,079, of which 203,301 were damaged and 51,778 destroyed; other counts differ. The minister put the housing share of the bill at almost COP 20 trillion (US$6.1 billion).
What It Means for You
For US readers with Colombian bonds or stocks, the plan shows how much of the bill is still unfunded and how it could press on a budget already under strain. Our reports on the fiscal plan and the 2027 budget adjustment give the wider context.
Rebuilding continues in Cali; see how a Cali rebuild is expected to take four years. More is on the Colombia hub.
What Is Not Known
It is not known how much of the COP 43.25 trillion gap will be funded in the 2027 budget, or whether the estimate will rise again. The plan’s figure may change again as damage assessments continue.
Sources: National Unit for Disaster Risk Management (UNGRD), Specific Action Plan for Recovery (PAE), reported late October 2026; Ombudsman’s office (Defensoría del Pueblo), update of 10 November 2026; UN Development Programme (UNDP) and UNGRD rapid assessment, August 2026 (all accessed 11 November 2026).
Frequently Asked Questions
How much will Colombia’s earthquake reconstruction cost?
The government’s recovery plan puts it at COP 58.29 trillion (about US$18.0 billion). That is a programmed value, not money already budgeted.
How much of the cost is funded?
Only COP 15.04 trillion (about US$4.6 billion) is identified. That leaves a gap of COP 43.25 trillion (US$13.3 billion).
What was the first estimate?
In mid-August the president cited about COP 30 trillion (US$9.3 billion). The estimate has since risen several times.
When did the earthquake happen?
A magnitude 7.4 earthquake struck western Colombia on Monday, 10 August 2026.
In depth
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error